What is happening with the US crypto market structure bill?

Members of the US Senate Banking Committee filed more than 100 amendments to a proposed cryptocurrency market structure bill ahead of a key markup session. The legislation aims to establish clearer federal rules for digital asset regulation.

Why are senators proposing so many amendments to the crypto bill?

Lawmakers are still negotiating major unresolved issues involving stablecoins, software developer protections and ethics rules for government officials. The large number of amendments shows how politically sensitive crypto regulation remains in Washington.

What does the crypto market structure bill aim to do?

The legislation would divide oversight responsibilities between the SEC and the CFTC. The proposal is designed to clarify which digital assets are treated as securities and which are regulated as commodities.

Why are stablecoin yield products causing debate?

Some lawmakers want to restrict crypto firms from offering interest-like returns on stablecoins because they believe the products resemble traditional bank deposits. Crypto companies argue overly strict rules could limit innovation and competition.

What stablecoin rule changes are senators proposing?

Jack Reed and Tina Smith proposed stricter wording for stablecoin yield restrictions by broadening the legal standard regulators could use against interest-bearing products.

Why are software developer protections important in the bill?

Some amendments seek to prevent blockchain developers from being treated as money transmitters. Crypto groups argue software builders should not face the same licensing and compliance requirements as financial intermediaries.

Senators file 100+ crypto bill amendments

Q: What amendment did Catherine Cortez Masto propose?

Catherine Cortez Masto proposed creating a safe harbour protecting software developers from criminal liability tied to money transmitter registration requirements.

Q: What are the proposed crypto ethics rules for government officials?

Chris Van Hollen introduced an amendment that would prohibit senior government officials and their families from owning, promoting or affiliating with cryptocurrency businesses.

Written by Brie CarterPublished May. 13 2026

Members of the US Senate Banking Committee filed more than 100 proposed amendments to a cryptocurrency market structure bill ahead of a scheduled markup session on Thursday.

According to a leaked amendment list obtained by POLITICO, Democratic senators proposed dozens of changes while Republican lawmakers largely focused on narrower revisions to the legislation.

The bill seeks to establish a formal regulatory framework for digital assets by dividing oversight authority between the SEC and the CFTC.

One of the most contested issues remains stablecoin yield products, with lawmakers and industry groups continuing to debate whether crypto platforms should be permitted to offer interest-like returns on stablecoin holdings.

A draft released earlier this week would prohibit third-party platforms including exchanges from offering stablecoin yields deemed “functionally equivalent” to traditional bank deposit interest.

Jack Reed and Tina Smith proposed an amendment seeking stricter language around stablecoin yield restrictions by replacing the bill’s “equivalence” standard with a broader “substantially similar” test.

Chris Van Hollen proposed an ethics amendment that would prohibit senior government officials and their families from owning, promoting or affiliating with cryptocurrency businesses.

Another amendment from Catherine Cortez Masto would create a safe harbour protecting software developers from criminal liability for failing to register as money transmitters, a provision supported by many crypto industry groups.